This week has been a big week for the markets, specifically for Greece Europe with the austerity package vote taking place on Wednesday. As your aware Athens erupted with riots from the proposed implications on the Greek Citizens.
In the lead up to the vote, due to economists speculating about the outcome, the European Funds in our three portfolios produced good returns. These helped our Balanced portfolio to an average gain of 1.46% across its 8 funds.
Our Aggressive portfolio also did well, with 75% of them showing gains. The Japanese fund that we invest in grew a further 1.35% in the last week meaning it has returned an impressive 3.8% in the last month.
Finally our Cautious portfolio also showed gains albeit not as much as the other 2, which however is to be expected. The portfolio averaged 0.24%, helped by our 6 Income funds*, which between them averaged a 1% return in just a week. Incredibly the Artemis Income Fund had a rise of 2.18% in just one week, over 4 times the average return of money invested in the bank annually.Follow us on Twitter http://twitter.com/#!/reevesifa or on Facebook http://www.facebook.com/home.php
* Definition of an income fund http://www.investorwords.com/2404/income_fund.html
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